Insurance Coverage
 

As some of you know, opening day was eventful for me and my crew. I was coming out of Rockhold Creek. It was just before daybreak and I followed the charter boats out past the jetty. I opened it up to 17mph (the speed most charters run out of Deale). I told my crew to be on the lookout for the white clam markers just outside Deale (the winter ice had laid them over). I told them they would be easy enough to see, but extra eyes would be helpful.

About three to five minutes outside the jetty, we felt a WHAM. My first thought was that I hit something. But instead, we had been hit from behind by another boat:mad: A 33 ft Grady White (with radar) ran smack dab into my outboard and slid off to do damage to my gelcoat on the transom.
I was amazed that it wasn't more damage. The engine cover needed replacing and about 9 inches of gelcoat work. I guess, because I was doing 17 and he was doing 27 (maybe); it was like he hit me at only 10mph. Add to that, a boat in the water moves forward when hit (not stationary like a car), and we were all very lucky.

Anyway, I got my new insurance premium bill for this coming year. Because I put in a claim, I no longer qualify for a special discount that I was getting. My old bill was for $695/year. The new bill is for $765/year. Now I realize that's only $70 more/year. But it pisses me off that My insurance rates went up due to someone else hitting me from behind and being at fault.
I'll spend $70 on a single fishing trip (ice, bait, gas, tackle); but it's the principle that has me ticked.
It's not financially efficient, but I'll spend $800 on a new insurance policy, just so I can call them and tell them to Kiss My A$$.

So here's what I need from you. What insurance company do you have? Have you ever put in a claim? How proficient were they in handling your claim? Are you still happy with your carrier?
I'm with BoatUS and never put in a claim in for over 30 years of boating. Even when my electronics were stolen, I placed a claim, but then the electronics were recovered, so my claim was withdrawn.

Again, I realize that $70 is not a big deal. I may be forced to stay with them if I can't find another carrier. I know some people have Charter Lakes and are happy. Who do you have and how happy are you?
5th

I use Sea Insure from Seatow for the last 5 years but I have not had a claim so I really do not know since a claim is where you separate the good from the bad .

Call Jerry Judge at Bayside insurance in Stevensville. He is an Erie rep.

Didn't the guy that hit you pay for the damage?

Yep; this is all about me putting in a claim. My insurance pays for the repairs, minus my deductible (supposedly to get me back on the water quicker). After I'm back on the water, then they go after the other guys insurance company to get reimbursed.

BUT; technically, I put in a claim:eek: Therefore, I'm not eligible for a special discount that I was getting for NEVER putting in a claim:mad:

Like I said, for the policy to go up $70 is not a huge increase. I'm sure it cost them more than $70 to process my claim. They had not only the office paperwork, but their adjuster/surveyor came out twice to see the boat (and I know he had to get paid too).

I haven't called them yet to see if they will drop the $70 charge (perhaps they will). I just wanted other options before I call.
5th

Shorething here works at Bayside insurance. Give him a call. He has my homeowners, auto, life, and umbrella with Erie. Erie is great to deal with when you need them (I have had auto claims and house fire claims with them). I got a multipolicy discount. I used to have my boat insurance with them prior to running for hire trips. It was great to have everything backed up by the umbrella.

I now have charter lakes for my boat since I run charter trips. However I dont know how they are when it comes to claims. I know Erie is good and Chris is responsive.

Call Hogan's Insurance in Chestertown for the charter Insurance. That is the company most of the charter people in the upper bay deal with. Better rates.

Marty,
If you wanted to package your Home, Auto etc with the Boat then I could look at packaging everything with Erie. Erie does not insure boats stand alone. Otherwise I have markets with Progressive, Catlin, NMU and Foremost for boats stand alone. Give me a call or send me an email if you want to discuss. Chris 410-643-6641 or chris@bayside-insurance.com.

He also does Progressive - thats who I have my boat insurance through

This is who we have the charter boat with - been good to deal with. They beat Charter Lakes rate by a long shot.

Good to know. I will give them a call.

I went with Charter Lakes because they were so flexible on coverage (offering me ocean coverage, no lay up period, etc.)

Thanks for all the options:D Chris, I am happy with my home and car insurance.

I'll make a few phone calls.

Thanks guys
5th

I have charter lakes and would highly recommend them. I have placed a claim -- for a maybe 1500 in gear stolen off my boat -- and they not only got me the proceeds very quickly, they also did NOT increase my rates. The gear was stolen on a Sunday afternoon. I called thinking the office would be closed and got no answer. 30 seconds later the claims guy called me back on his day off and got the paperwork going. Frankly the best service I have had in years. And the price is right on the insurance. Cheaper than the big name providers with better service.

I got an estimate from Hogan. Charter lakes is better for me with some ocean coverage, no lay up, high liability coverage, etc. thanks for the suggestion though. Plus I have towing coverage with Charter Lakes included.

Marty, the insurance companies that I have heard the best things about are Erie, Charter Lakes, and ACE. I have ACE and had a claim three years (2012)ago when some lowlife cut the mounting brackets on my HDS 10 and stole it. ACE was great to deal with - paid quickly and no hassle, but that wasn't a collision claim. My rate did not jump appreciably in 2013 ($820), but went to $880 in 2014 and was $876 this year. I'm restricted to the Chesapeake Bay, and need a rider if I use the boat between Dec 1 and April 1. Apparently it is not unusual for insurance companies to have a default clause in policies (over 26' I believe) for a seasonal layup period in this area of the country. I had to read my policy to find that stipulation.

Well; April at Charter Lakes was great to deal with. We went over all the coverages and deductibles. I'm getting a better policy for less than my Boat U.S. premium:D As we were comparing the two policies, I found that B.U.S. had not only increased my premium by $70, but they had upped my deductibles as well. It seems that I had a "diminishing deductible" that had gone down over the years, but because I had put in a claim, they bumped it back up to the max as well.



There is no "lay up" period for winter (wasn't for B.U.S. either), however, the new policy has $2,500 towing for each incident:eek: I was paying a separate Boat U.S. policy for unlimited towing:mad:

I can't find any negatives.

Thanks for all the suggestions and comments from the board.
5th

Boat US overloads me with garbage mail all of the time. When I finished building my 42'er I asked them for a quote. They said my 5 page survey from a registered boat surveyor wasn't good enough!:confused:
Went up the road to the Allstate agent and NO PROBLEMS. Includes towing. Boat US will never get a penny out of me.
I'm guessing Boat US makes their money off of trailer boats that spend the majority of their life sitting in the yard on the trailer.

Rekindling an old thread. My BoatUS policy is up for renewal in Sept. They are now underwritten by Geico (3rd carrier in 3 years I believe) and of course the premiums are almost 15% higher. So I went back to this thread and contacted Charter Lakes. I have 2 separate quotes with 2 carriers, both significantly more affordable than my current policy, but wanted to see how satisfied everyone still is. Also, does anyone continue to have a separate SeaTow or BoatUS towing policy or is the towing within these other policies adequate? Never had to use it and hope not to but want to see if there is an advantage to keeping one or the other. Any comments or suggestions would be appreciated. Thanks.

Marty I have to throw my support in for Erie as well.

While not ever having to do a claim on the boat, I have been in 3 auto accidents in the last time years (none my fault) and they were great to work with.

Also had a flood in the house years ago and they took care of it quickly and to my satisfaction.

And with that said, my rates have never gone up due to any type of claim.

AJSB
Luckily; I haven't had to put in a claim with Charter Lakes:D Of course, I never put in a claim with Boat US for over 15 years either; so I don't know how they will react. However, I do know how BOAT US reacted and I felt like I would be supporting their actions if I had stayed with them:mad:

As to your second question about keeping towing. I reluctantly did keep my towing with Boat US towing. I have 2500 dollars on water towing with my Charter Lakes policy, but I need TRAILER ASSIST for when we trailer to Southern Maryland (Point Lookout) in the fall.

I hate supporting Boat US in any way, but I do use the on water fuel discount, the West Marine discount, and I enjoy the Boat US magazine.

So there you have it. I guess every insurance company is a crap shoot until you need them. I just didn't think I got my monies worth out of Boat US when I needed them.

Best of luck with your new carrier. Sounds like their are several options for you to use.
5th (Marty)

I use Erie as well. I have never submitted a claim though.

No complaints on premium

I switched to Charter Lakes this Spring. Allstate kept raising the premium and couldn't give me a reason why (no claims) except they had a regional area increase. Got the Charter Lakes policy with better coverage for 1/2 the premium! Also has "named storm" haul out and return coverage.

Yikes, just seeing this thread. Can't believe he didn't see you.

I have Travellers through my friendly broker's at McDole Edge. $574 per year 27 ft w/ twins, includes $1000 in towing coverage. Great quick claim resolution earlier this year.